The Inland Revenue Board of Malaysia has issued Public Ruling No. 2/2024, which updates and replaces Public Ruling No. 10/2015 on the tax treatment of investment holding companies. The update includes two main changes.
The first change is the insertion of a new paragraph 9.4 on expenses and deductions related to single-tier dividends. The new paragraph explains that with effect from year of assessment (YA) 2017, dividend income that is not entitled to a tax deduction at source is exempted …